The Global Orthopedic Device Industry is Expected to Reach $62.6 Billion by 2022

Press Release-
updated: Jan 10, 2018

IRVING, Texas,
January 10, 2018 (Newswire.com) -
​According to a new market report published by Lucintel, the future of the global orthopedic device industry looks attractive with opportunities in public and private hospitals. The global orthopedic device industry is expected to reach an estimated $62.6 billion by 2022 and is forecast to grow at a CAGR of 5.5% from 2017 to 2022. The major drivers for the growth of this market are the increasing aging population, increasing adoption of advancements in medical technologies, and growing healthcare expenditure and awareness.

In this market, orthopedic reconstruction, spinal devices, trauma fixation devices, craniomaxillofacial devices, dental implants, soft tissue repair, braces and accessories, and orthobiologics are the major segments by device type. On the basis of comprehensive research, Lucintel forecasts that the orthopedic reconstruction, trauma fixation devices, and orthobiologics segments are expected to show above average growth during the forecast period due to an increasing geriatric population, the rising prevalence of osteoporosis and osteoarthritis, and the increasing incidence of road accidents.

Within the global orthopedic device industry, orthopedic reconstruction is expected to remain the largest segment by device type. With the rise of orthopedic disorders and increasing aging population are the major driving forces that will spur growth for this segment over the forecast period.

North America is expected to remain the largest region due to increasing awareness of minimally invasive procedures for orthopedic surgeries, continuous innovation in the implant technologies, and advanced healthcare facilities.

APAC is expected to witness the highest growth rate over the forecast period due to increasing road accidents, advancement in the technologies of treatment, and increasing awareness about healthcare options.

Emerging trends, which have a direct impact on the dynamics of the industry, include the increasing demand for smart implants, the widening use of nanotechnologies, and the adoption of robotic surgery to increase mechanical performance and accuracy. DePuy Synthes, Zimmer Biomet Holding Inc., Stryker Corporation, Smith and Nephew PLC, and Medtronic are among the major manufacturers of orthopedic devices. Some of these companies are also pursuing mergers and acquisitions as strategic initiatives for driving growth.

The study includes a forecast for the global orthopedic device industry by device type and region, as follows:

By device type [Value ($ Million) from 2011 – 2022]:

· Orthopedic Reconstruction

· Hip

· Knee

· Shoulder

· Others

· Spinal Devices

· Trauma Fixation Devices

· Craniomaxillofacial Devices

· Dental Implants

· Soft Tissue Repair

· Braces and Accessories

· Orthobiologics and Others

By Region [Value ($ Million) from 2011 – 2022]:

· North America

· United States

· Canada

· Mexico

· Europe

· Germany

· France

· Italy

· United Kingdom

· Spain

· Asia Pacific

· China

· India

· Japan

· The Rest of the World

· Brazil

· UAE

This 199-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link http://www.lucintel.com/toc/orthopedic_device_industry_2017_2022.aspx or helpdesk@lucintel.com

About Lucintel

Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.

About Lucintel

Lucintel, the premier global market research and management consulting firm creates your equation for growth. To learn how Lucintel can help focus your business development efforts with pragmatic solutions, watch short movie www.lucintel.com/imovie/